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Glint Solar, a company that provides software for solar developers, <a href="https://cms.mercomindia.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler. The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.
Ampd Energy, a provider of battery energy storage solutions for heavy industries, <a href="https://cms.mercomindia.com/ampd-energy-secures-27-3-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $27.3 million in an oversubscribed Series B funding round. Kibo Invest and Openspace co-led the round, which also included existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.
Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) <a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener">received</a> tepid interest from investors. At the end of the bidding window on November 8, 2024, the issue was oversubscribed 2.75 times. The price band was set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). The IPO saw bids for 160 million shares, exceeding the 58.20 million shares on offer.
Norway-based FREYR Battery has <a href="https://www.mercomindia.com/freyr-to-buy-trina-solars-5-gw-solar-module-facility-in-u-s-for-340-million" target="_blank" rel="noopener">announced</a> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.
Electric vehicle (EV) startup MOOEV Technologies has <a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹40 million (~$474,683) in a seed funding round led by Bizdateup. Investors included Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country.
ZE Energy, a developer specializing in solar and energy storage projects, <a href="https://cms.mercomindia.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener">raised</a> €54 million (~$58 million) in funding. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.
Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has <a href="https://cms.mercomindia.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener">agreed</a> to acquire control of SUNfarming, a German Solar developer and independent power producer. The transaction remains subject to obtaining regulatory clearances and conditions and is expected to close by Q1 2025.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Glint Solar Raises $8 Million in Series A Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Glint Solar, a company that provides software for solar developers, <a href="https://mercomcapital.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler. The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.
Ampd Energy, a provider of battery energy storage solutions for heavy industries, <a href="https://mercomcapital.com/ampd-energy-secures-27-3-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $27.3 million in an oversubscribed Series B funding round. Kibo Invest and Openspace co-led the round, which also included existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.
Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) <a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener">received</a> tepid interest from investors. At the end of the bidding window on November 8, 2024, the issue was oversubscribed 2.75 times. The price band was set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). The IPO saw bids for 160 million shares, exceeding the 58.20 million shares on offer.
Norway-based FREYR Battery has <a href="https://www.mercomindia.com/freyr-to-buy-trina-solars-5-gw-solar-module-facility-in-u-s-for-340-million" target="_blank" rel="noopener">announced</a> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.
Electric vehicle (EV) startup MOOEV Technologies has <a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹40 million (~$474,683) in a seed funding round led by Bizdateup. Investors included Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country.
ZE Energy, a developer specializing in solar and energy storage projects, <a href="https://mercomcapital.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener">raised</a> €54 million (~$58 million) in funding. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.
Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has <a href="https://mercomcapital.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener">agreed</a> to acquire control of SUNfarming, a German Solar developer and independent power producer. The transaction remains subject to obtaining regulatory clearances and conditions and is expected to close by Q1 2025.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.glintsolar.com/" target="_blank" rel="noopener">Glint Solar</a>, a company that provides software for solar developers, raised $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler.
The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.
&#8220;The solar industry has done a great job at developing ways to harvest green energy, but now we need better processes to get these plans in motion. This is the gap that Glint Solar is filling. As one of the first unified products for utility projects on the market, Solar Developers, Engineers, Analysts, and Management can find everything they need to locate the best land spaces quickly and accurately.&#8221; Jonathan Lerner, Partner at Smedvig Ventures, said.
The company states that its software provides high-quality data based on satellite technology to help customers identify solar projects, offering better project margins.
By 2025, the company plans to provide insights and software tools for solar developments and extend its software to include Battery Energy Storage System development.
Gustav Alberius, Chief Strategy Officer of Turn Energy, said, &#8220;The Glint Solar software has significantly boosted our development processes by having a centralized platform where we can evaluate buildability, permit conditions, and yield as early as in the origination process. It has effectively allowed us to 3x our project pipeline and reduce development costs. We&#8217;re very excited to follow Glint Solar&#8217;s continued innovations in the solar software space.
According to Mercom&#8217;s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, VC funding activity decreased 29% year-over-year, with $2.7 billion raised in 29 deals compared to $3.8 billion from 33 deals in the first half of 2023.
In 2022, Berlin-based startup Zolar, a platform that serves as an online configurator for the planning and subsequent purchase of a rooftop PV system, <a href="https://cms.mercomindia.com/solar-startup-zolar-funding-ecosia/" target="_blank" rel="noopener">received</a> a $23 million investment from Ecosia.

Glint Solar Raises $8 Million in Series A Funding

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